Property News · July 29, 2021

As Evergrande trims offshore debt and rebuilds investor confidence, SMEs and banks are overlooked in payment queue


China Evergrande’s creditors face uncertain times ahead. The world’s most-indebted developer has to navigate through choppy waters, including political concerns, before it can steady itself after a huge beating in stock and bond markets over the past five months.Billionaire chairman Hui Ka-yan has taken efforts to reduce debt and shore up market confidence after it came in Beijing’s cross hairs for its massive borrowings and was prevented from getting new loans in the second half last year.Some…

Source : South China Morning Post
Read more…As Evergrande trims offshore debt and rebuilds investor confidence, SMEs and banks are overlooked in payment queue